Briefly about Bitcoin.
Cryptocurrency based on blockchain technology was invented in 2009 by an unknown person named Satoshi Nakamoto. Unlike gold and other national currencies, it is limited (21 million) and decentralized, unlike banks. Its system is powered by all miners around the world based on computer hardware, and they are incentivized for it (they are given bitcoins). Let me briefly explain his algorithm: he asks the computer a question in a mathematical example, and the computer solves it in a certain time interval and sends the answer, and this is how bitcoin miners earn money. But Bitcoin's algorithm gives more and more difficult mathematical examples and problems, as a result, one device is not enough for this, and you need a powerful and more device. And with your device, you get a small boost. Miners can earn by selling their bitcoins earned through these mining devices through exchanges. At the beginning, Bitcoin was known only to small groups and was very cheap. Even on May 22, 2010, a programmer named Laszlo Heinz ordered 2 pizzas for 10,000 bitcoins (currently worth $370 million), and this day is still known among "bitcoiners" as " It is celebrated as "Pizza Day". Over time, Bitcoin started to gain popularity very quickly and it reached $66,000 in 2021. Following this, people's interest in blockchain technology has increased, and now there are more than 10,000 cryptocurrencies that work on different principles. Recently, the world's giant investment companies "Blackrock" ($9 trillion), "Fidelity investments" have invested in Bitcoin.
($4.5 trillion) and 10 more (over $15 trillion in total) have shown interest and want to bring it to the US stock market in the form of a Spot ETF. Experts say that this will greatly affect the further popularity of bitcoin and its future price. Because after gold was placed on the US stock market in the form of a spot ETF, its price increased by 3.5 times. Bitcoin, on the other hand, can simultaneously act as a digital gold and a means of payment, and unlike gold, it is limited. According to statistics, 5% of the world's population has heard about bitcoin. The conclusion is from yourself!
@Bitcoin_Ethiopiaa
